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Simplify Operations and Spend Smarter with Procure-to-Pay Automation

Automate your procure-to-pay (P2P) process to drive cost savings, boost processing efficiencies, and gain 100% visibility across suppliers and spend.

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What is Procure-to-Pay Automation?

Procure-to-Pay (sometimes referred to as Purchase-to-Pay and often abbreviated to P2P) includes the whole process from point of order to payment, spanning the activities of requisitioning, purchasing, receiving, paying for, and accounting for goods and services. As such, the entire P2P process consists of many individual processes that take place across different parts of the organisation and involve multiple people. This introduces complexity and, at times, confusion. 

If the P2P process is manual, it takes more time and effort and opens the door to human error. An automated P2P process, however, can be designed for efficiency, minimises potential errors, increases transparency, and reduces overall costs. 

Are you looking to reduce costs, increase efficiencies, and mitigate risk across your global operations?

Look no further. If streamlining your financial processes, gaining visibility into your overall spend, and releasing working capital from your supply chain are on your to-do list, Basware Procure-to-Pay solutions can get you there quicker. 

How Basware’s Procure-to-Pay Solution Can Help

Basware offers a phased approach to support all your automation needs for today, tomorrow, and the future. Once you have the foundation in place to eliminate paper and manual steps from your procure-to-pay (P2P) processes, you can future proof your business operations to gain complete visibility across all flows of money, goods, and services globally – what we at Basware refer to as Visible Commerce. 

Eliminate Paper and Manual Processes

No matter how big or small your organisation, if you’re still relying on paper-based, manual processes, you’re likely facing several challenges – high processing costs, lack of visibility, lengthy processing cycles and difficult supplier relations. We can help you drive cost savings and processing efficiencies by eliminating time-consuming and error-prone manual processes from your procure-to-pay operations. With Basware, you can fully automate your procurement and payables processes, capture 100% of your financial data, and achieve the highest levels of visibility across the supply chain. 

Connect to 100% of your Supplier Base

Not all of your suppliers are the same. And if you are a global organization with operations in different geographies, the complexities associated with supplier interaction only increase. By offering multiple methods to engage with suppliers and exchange data and documents, Basware ensures that you can connect to all of your suppliers – from the largest multi-nationals to the smallest organizations, including the long-tail. Basware offers the lowest friction option for suppliers to increase supplier adoption and drive electronic invoicing (e-invoicing). 

Drive User Adoption to Eliminate Maverick Spending

The way to ensure compliance with purchasing policies and negotiated contracts is to provide an electronic procurement (e-procurement) solution that enables end-users to quickly find and order exactly what they need. Basware’s supports 100% user adoption by delivering an easy-to-use interface, supported by a robust underlying data model, and guide purchasing. This allows users to stay compliant with procurement policy without having to understand the intricacies of that policy. Basware also provides procurement teams with the right digital capabilities to support strategic initiatives behind the scenes.

Gain Visibility and Control Across your Spend

Cost containment and spend control are becoming strategic priorities for CFOs and CPOs, while at the same time minimizing disruptions to operations. Without complete visibility into your suppliers and spend, balancing these two objectives is almost impossible. Basware provides a holistic view into 100% of your suppliers and spend from a single, centralized location to enable better strategic decision making. Armed with data and visibility into company spending, you will be in a better position to control your spend, mitigate risk, and manage the entire supply chain.

P2P Solutions

Open Commerce Network

Leverage the largest global, compliant, open commerce network to interact and collaborate with suppliers. The Basware Network is supported by easy onboarding services and there are no fees required to join. This means you can easily connect to all your suppliers – from the largest to the smallest.

•    More than 2 million active buyers and suppliers 
•    Over 220 interoperability partners
•    Manage invoices in 175 countries across the world
•    70+ formats for e-invoicing supported
•    Automatic global compliance in more than 50 countries

Learn more

Electronic Procurement

Basware offers an advanced electronic procurement (e-procurement) solution to automate the entire procurement process from catalog and requisition management all the way through fast approval workflows, purchase order (PO) and goods receipt management, spend analytics, and beyond. Our e-procurement solutions are intuitive, easy-to-use, and drive 100% user adoption by making the right spending choice the easiest option for employees in the natural course of their work.

With everyone using the solution to buy goods and services, you can increase compliance with procurement policies and reduce maverick spending by funneling purchases through the proper channels to preferred suppliers. 

Accounts Payable Automation

Basware Accounts Payable (AP) Automation takes slow, tedious, manual, paper-based processes out of your AP cycle and delivers clear and compelling benefits. Advanced automation means less human intervention, fewer errors, and more efficient processes. Basware solutions further increase straight-through processing of invoices – by applying intelligent logic to automatically route, code, match, and approve invoices.

More touchless processing of invoices means more time available for your limited AP staff to focus on value-added activities such as resolving exceptions, analyzing spend, and managing supplier relationships.

Procure-to-Pay Capabilities

Basware’s Software-as-a-Service (SaaS) solutions are available in the cloud and only require a web browser to access. Users can access our P2P solutions from anywhere, even on the go. A seamless user experience across all devices (including mobile) means users only need to learn how to use solutions once to utilise everywhere. Further continuous innovation and monthly product releases help evolve the platform and ensure that our customers always have the most up-to-date solution functionality. 

Learn more about the ROI from SaaS Solutions.
 

Integration

Many global corporations may have multiple ERPs and back-end systems leading to costly integration projects and disjointed access to data. But with Basware, integration is seamless with the ecosystem of solutions you might already be using. We can easily, quickly, and simultaneously integrate with your existing systems (we've done it for over 250 ERPs), making it the true central hub for all your financial data. Our solutions are certified to operate the world’s leading ERP systems, including SAP, Oracle, and Microsoft Dynamics.

Learn more about our integration capabilities.

Source-to-Pay Ecosystem

Basware’s solutions were built with a strong focus on integration and an open approach to Source-to-Pay (S2P) ecosystems. The “ecosystem approach” to S2P relies on a network of applications that drive your business solutions through a centralized hub and multi-vendor, modular approach. Ecosystems are making it easier for organizations to take a connected, multiple-solution approach to their S2P processes from sourcing through payments and each step in between. 

Learn more about ecosystems.

Interoperability

The Basware Network supports interoperability, so if your suppliers are currently using another business network to transmit financial data, they can continue using it to send invoices and information to your Basware solution. This interoperability with over 220 partner networks means you can connect electronically to more of your suppliers to increase electronic invoicing.

Learn more about our network partners.

Artificial Intelligence and Machine Learning

Basware’s artificial intelligence (AI) and machine learning (ML) functionalities are available at every point in the purchase-to-pay process, adding value by speeding up tasks and eliminating errors. Here are some of the areas where we use AI/ML:

  • Automated data extraction, coding, and matching to drive more touchless processing of invoices. 

  • Recurring invoice discovery to automatically identify recurring transactions and recommend the creation of payment plans.

  • Leverage predictive analytics to proactively identify invoices at risk of late payment.

Learn more about Basware’s AI and ML capabilities.

Risk Management

You need open dialogs and increased communication between buyers and suppliers. Basware provides a systematic, “always-on” approach to supplier risk management. We enable clients to extend monitoring beyond their current top suppliers to reach new suppliers and eventually give more visibility into your long-tail of suppliers.

Analytics

Basware Analytics is your powerhouse of business insights. A range of out-of-the-box reports and dashboards help you analyze key procurement, AP, spend, and supplier metrics and take action on the information you see. You can perform granular analysis of your data to improve processes, identify and correct bottlenecks, analyze spending patterns, forecast cash flow, and make better-informed decisions. Basware Analytics enables you to easily track progress against goals, benchmark your success against top-performing companies on the Basware Network, streamline processes, spend smarter, and more.

Learn more about the value of actionable insights.

Gartner Magic Quadrant for P2P

Gartner Magic Quadrant for P2P

Forrester 2017 Vendor Report

Forrester 2017 Vendor Report

Leader in the 2018 IDC MarketScape

Leader in the 2018 IDC MarketScape